IRCTC to share 50% of the convenience fee with government

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Studycafe | Oct 28, 2021 | Views 176503

IRCTC to share 50% of the convenience fee with government

IRCTC to share 50% of the convenience fee with government

The Indian Railway Catering and Tourism Corporation (IRCTC) informed stock exchanges on Thursday that it will share half of the proceeds from convenience fees with the government.

IRCTC charges a convenience fee for online bookings, which is one of the company’s key revenue streams, bringing in around Rs 620 crore in FY20.

“In compliance with the Regulation 30 of SEBI Regulations, it is to be informed that the Ministry of Railways has conveyed its decision to share the revenue earned from convenience feel collected by IRTC in the ratio of 50:50 effective November 1, 2021,” the company said in a stock exchange filing.

IRCTC to share 50% of the convenience fee with government

IRCTC to share 50% of the convenience fee with government

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